US$13 billion handled per day through interbank e-payment in 2018
VGP – Viet Nam's interbank e-payment system handled 37 million transactions worth nearly VND21 quadrillion (US$898.4 billion) in the first quarter of the year, up 23% and 17.8% respectively compared to 2018, according to the State Bank of Viet Nam (SBV).
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By the end of March, the country had 18,668 ATMs and 261,705 POS cards.
Viet Nam's interbank e-payment system handled VND 73 quadrillion in 2018, witnessing the growth of 25% compared to the previous year and an increase of 13 times higher than the GDP. As much as US$13 billion were handled per day through interbank e-payment.
According to PwC’s 2019 study on 27 nations and territories, mobile payments in Viet Nam are growing fastest globally with the proportion of mobile payments increasing from 37% to 61%. Mobile payments saw a sharp growth of 169.5% compared to 2017.
Viet Nam targeted that the ratio of cash transactions should be cut to below 10% lower than the national plan of non-cash payment market for 2016-2020.
According to the statistics of the Ministry of Planning and Investment, as of December 2018, the proportion of cash payment only accounted for 11.49%.
By Thuy Dung
